Algonquin Power & Utilities (NYSE:AQN) Issues Quarterly Earnings Results

Algonquin Power & Utilities (NYSE:AQN) posted its quarterly earnings results on Friday. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04), Zacks reports. The business had revenue of $584.80 million during the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%.

Algonquin Power & Utilities Stock Down 0.1 %

AQN stock opened at $4.79 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a 1 year low of $4.19 and a 1 year high of $6.79. The company has a fifty day simple moving average of $4.59 and a 200 day simple moving average of $4.86. The firm has a market cap of $3.67 billion, a PE ratio of -3.71 and a beta of 0.71.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Monday, March 31st. Algonquin Power & Utilities’s payout ratio is presently -14.44%.

Analyst Ratings Changes

AQN has been the subject of a number of recent analyst reports. National Bankshares decreased their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Scotiabank raised their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus target price of $6.00.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.